Not only that, these guys (you mention Wheeler, Levrone, Francois and we gotta add Yates) turned pro and immediately dominated the sport. How many recent pros, other than Phil Heath, have turned pro and won their first shows?
I'll go you one further...new talent didn't usurp Yates, Levrone and Wheeler. They beat themselves. For example, Kevin in 92 at the NOC was one of the best physiques on a bodybuilding stage EVER. Years later he got bigger, but he lost his conditioning. So, yeah, guys placed ahead of him, but he wasn't the same Kevin that once was. Ditto Flex, Francois, Yates...